Media Owned by Wealthy Are Quick to Tell You Wealth Taxes Are a Bad Idea

Post by el_nahual » Thu, Oct 22, 2020, 5:50 PM UTC

Post by tonystubblebine » Thu, Oct 22, 2020, 5:51 PM UTC

rbecker wrote: post #16

tonystubblebine wrote: post #6

As a business owner, when taxes are low, I see that as an incentive to pocket profits. But when taxes are high, I see that as an incentive to hide the profits by investing in the future. I know this isn't always the case with everyone. And especially investors have a case that higher corporate taxes reduce the value of their investments, possibly to the point of not making them. But this incentive is so blatantly obv…

That's a misconception worth clearing up, but the article is about taxes on wealth (i.e. assets), not profit.

Post by marricks » Thu, Oct 22, 2020, 5:52 PM UTC

commandlinefan wrote: post #2

I'm neither wealthy nor the media and I believe that wealth taxes are a bad idea, too.

Post by mikepurvis » Thu, Oct 22, 2020, 5:52 PM UTC

muststopmyths wrote: post #15

RivieraKid wrote: post #11

Earlier quoted context omitted.

Why? (I mostly agree but it's not a strong opinion)

My guess: because they hope to be wealthy some day.

Post by tonystubblebine » Thu, Oct 22, 2020, 5:53 PM UTC

jostmey wrote: post #17

I’m more concerned about what happens if we don’t start taxing the rich more (in the US). I’m worried about the class divide turning violent